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The best investment apps offer all kinds of traders access to worthwhile accounts and investment products (including stocks, bonds, ETFs, crypto, and more) with low fees, access to research, educational resources, and accessible user interfaces. If you're new to the world of investing, you can also check out the best investment apps for beginners.

These are the best investment apps currently available to traders as chosen by Insider's editors.  

Best Investing Apps

E*TRADE

E*TRADE - Product Name Only is a one-stop shop for investing. and is the overall best app for investing. Whether you're a seasoned investor or a beginner, you'll find what you're looking for with this investment app. E*TRADE is also a great app for stock trading after eliminating all stock and ETF trading fees. The investing app also trades mutual funds, bonds, options, futures, IPOs, and CDs.

If you're not interested in self-directed investments, E*TRADE's Core Portfolios are a great option. After you fill out a risk profile to share your goals, time horizon, and risk tolerance, you'll get a recommended tax-sensitive portfolio of ETFs. E*TRADE also offers a socially responsible ETFs and smart beta ETFs.

A regular E*TRADE brokerage account has no account minimum to open, but to open an account with Core Portfolios you'll need at least $500. If you're investing $25,000 or more, E*TRADE's Blend, Dedicated, and Fixed Income Portfolios are worth considering. In addition to a more customized portfolio, these plans include one-on-one advising with a financial consultant.

What to look out for: While you're able to open an account and choose a Core Portfolio with $0 down, you'll need to fund the account with at least $500 to get started investing. Investors should also note that Morgan Stanley acquired E*TRADE on October 2, 2020.

E*TRADE Review

SoFi Invest

SoFi Invest is one of the best investment apps with no advisory fees or subscription fees. Stock and ETF trades also don't charge fees. The investing app offers both low-cost self-directed and automated portfolio options suitable for all kinds of investors.

For those with a set-it-and-forget-it attitude, SoFi Invest - Product Name Only automated investing app will recommend a portfolio made up of ETFs, based on your risk tolerance. Once you decide which portfolio is appropriate, you can get started investing with as little as $1.

SoFi Invest provides features like portfolio rebalancing, free access to certified financial planners (CFPs), and a 1% IRA match on eligible contributions. Keep in mind that you'll still have to pay fees to the funds you're invested in within your portfolio.

Active traders don't pay transaction fees when buying and selling fractional shares, stocks, or ETFs. You can also invest in cryptocurrency, but SoFi charges a markup of 1.25% on those transactions. SoFi offers several different cryptocurrencies, including bitcoin, ether, litecoin, and others. Plus, it now offers options trading.

SoFi Money (Member FDIC), a checking/savings account hybrid with a competitive interest rate, a debit card, and unlimited ATM fee reimbursements, can store money you're not ready to invest yet.

What to look out for: There are only five portfolio options available for passive investors, ranging from conservative to aggressive. Despite no advisory charges, you'll still incur fees from the ETFs included in your portfolio.

SoFi Invest Review

Fidelity Go

Fidelity Go - Product Name Only is Fidelity Investments - Editorial Name Only's robo-advisor investing app that is easy to understand and is great for those who don't want to spend a lot of time or incur too many fees building wealth.

After answering a set of questions about your age, risk tolerance, and goals, a team of experts will select an appropriate portfolio made up exclusively of Fidelity Flex mutual funds, none of which charge additional management fees or fund expenses. That means you pay 0.35% for accounts with balances of $25,000 or more.

You only need Fidelity Go - Minimum Deposit to get started investing, and the professionals behind the Fidelity Go investment app will rebalance your portfolio periodically. You can change your investment strategy at any time from seven different allocations ranging from conservative to aggressive.

What to look out for: The investing app offers customer support, but no option to connect with a human adviser one-on-one for financial planning unless you upgrade to the 0.50% AUM fee option. No tax-loss harvesting, which can be especially valuable for higher balances. Investments are limited to Fidelity Flex mutual funds, which may be limiting. The stock trading app doesn't offer ETFs.

Fidelity Go review

Robinhood

Robinhood Investing - Product Name Only is a beginner-friendly investing app with commission-free trading options for US-exchange-listed stocks and ETFs (and fractional shares of both), options, and cryptocurrencies. The stock trading app doesn't have a minimum account size requirement for stocks, ETFs, and options trades. 

For access to larger instant deposits, research reports from Morningstar, and NASDAQ market data, investors can upgrade to Robinhood Gold for a Robinhood Cash Management Account - Gold Member - Fees Display. The membership includes up to $50,000 in instant deposits, plus $1,000 of margin and a Robinhood Cash Management Account - Gold Member - APY interest on any excess margin used.

If you're interested in trading cryptocurrencies, you'll have access to 17 different assets, including bitcoin, bitcoin cash, dogecoin, ether, and more. 

Similar to SoFi Invest, Robinhood offers a 1% IRA match on eligible contributions into a traditional or Roth IRA. You can check out how Robinhood and SoFi compare here. 

What to look out for: Robinhood faced intensified public scrutiny throughout the coronavirus-induced market chaos. The New York Times reported that the app's game-like interface encourages young and inexperienced investors to take too-big risks, often through "behavioral nudges and push notifications." After the suicide of a 20-year-old user who expressed confusion about the negative six-figure balance in his account after a complex options transaction, Robinhood announced a slew of changes, like adding more educational content around sophisticated options trading and hiring a specialist to assist users.

But in December 2020, the US Securities and Exchange Commission (SEC) fined Robinhood $65 million for misleading customers about its business practices with other trading firms. According to an SEC press release, Robinhood earned the majority of its revenue from trading firms that offered payments in exchange for Robinhood sending customer orders to those firms for execution. The SEC also pointed out that Robinhood failed to accurately disclose this information on its website. Without admitting to or denying the claims, Robinhood agreed to the $65 million settlement.

In 2021, Robinhood also received tremendous backlash after it prevented users from buying shares of Gamestop (GME), AMC Entertainment (AMC), Nokia (NOK), and other stocks during a Reddit-influenced share price surge. 

Robinhood review

M1 Finance

M1 Finance investment app offers brokerage accounts, cash management accounts, and lending all under the same roof. On the investing end, you can either trade stocks and ETFs on your own or choose from among 60 different curated portfolios, thanks to its Pies feature.

The investing app's Pies gives you two options: build your own investment strategy with stocks and ETFs or choose from pre-built pies (also known as Expert Pies). With M1 Finance's Expert Pies, you can sift through multiple portfolios to find the Pie that best aligns with your personal goals (like general investing, responsible investing, retirement investing, and more).

But customization and expert portfolios aren't the only perks M1 Finance investing app offers; the stock trading app also provides fractional share investing and automated investing features. If you want to leave the maintenance of your portfolio to the professionals, you can utilize the investment app's auto-invest settings to schedule portfolio contributions and have M1 Finance automatically rebalance your investments when necessary.

You can also access much more with an M1 Plus subscription. This includes both a morning and afternoon trading window (standard M1 users' trades only execute during a morning window), custodial accounts, smart transfers, and more.

What to look out for: You'll only be able to invest in stocks and ETFs with M1 Finance. If you're looking to diversify your portfolio outside of these investment types, you may need to consider other investment platforms.

M1 Finance review

Ellevest

Ellevest - Product Name Only is one of the best investing apps that encourages you to build an investment philosophy around your goals. Your access to these goals can vary based on which membership plan you select.

Then, this female-forward online adviser takes it a step further and considers your gender, lifespan, and earning potential to create a custom portfolio of mostly ETFs. You can also opt for a socially responsible allocation, if that's important to you.

As a fiduciary, Ellevest - Product Name Only automatically rebalances and regularly updates your performance forecast, taking into consideration fees, taxes, and the occasional market crisis to show you whether you're on track to meet each of your goals — and what you can do to make up for it if you're not. The app also provides learning resources like email courses and live workshops. Financial and career coaching can also be purchased à la carte at a discount. Most recently they also added banking accounts*.

Ellevest charges a monthly membership fee ranging from $5 month to $9 a month. There are no additional investment advisory fees on top of the monthly membership, but there are underlying fees charged by the ETFs in your portfolio.

What to look out for: You'll have to spring for the higher-tier offerings if you want more specific guidance for your goals beyond "build wealth." Ellevest does not offer automated tax-loss harvesting, which can be valuable for investors with higher balances. As with any investment app that charges monthly fees rather than per-account advisory fees, it's important to note how much of your balance they represent.

Ellevest review

Charles Schwab

You'll find any type of investment you're looking for at the Charles Schwab stock trading app. These include (but aren't limited to) self-directed stock trading, crypto coin trusts and bitcoin futures, mutual funds, and retirement accounts. But it's the Charles Schwab Intelligent Portfolios - Product Name Only, the brokerage's robo-adviser, that ultimately outshines competitors.

The Premium version of the investment app requires a minimum investment balance of $25,000, but combines automated investing with ongoing financial planning. Your risk tolerance profile will help experts design a custom portfolio of Schwab ETFs that will be rebalanced regularly. All portfolios include a cash allocation, which is deposited in a Schwab high-yield account. A free add-on feature called Schwab Intelligent Income can help you generate a monthly paycheck from your brokerage or retirement accounts.

You'll pay an initial planning fee of $300 to meet with a certified financial planner and a flat $30 a month for ongoing guidance whenever you need it, but no asset under management fee. Once your balance reaches $50,000, free tax-loss harvesting is available.

There are also comprehensive online financial planning tools available that let you link up various accounts to track your progress toward goals and forecast different scenarios on your own.

What to look out for: Minimum balance requirements disable anyone with less than $5,000 from investing in Schwab Intelligent Portfolios. As with any investment, you're responsible for paying the underlying fees in the ETFs in your portfolio.

Charles Schwab review

Vanguard

Vanguard - Product Name Only is an undeniable leader in investing as one of the top online brokerages. The stock trading app offers a large selection of investment options, self-directed brokerage accounts, and managed account options. But Vanguard is the best investment app for retirement plans, such as a traditional or Roth IRA. 

Moreover, Vanguard offers SEP IRAs, 401(k) rollovers, individual 401(k)s, and SIMPLE IRAs. With a Vanguard retirement account, you'll get access to numerous ETFs, such as Vanguard Total Stock Market ETF and Vanguard Total Bond Market ETF. You can also access Vanguard's All-in-One retirement funds. But most of these funds require between $1,000 to $3,000 minimum to invest.

On top of multiple retirement account options, Vanguard provides investors with a handful of retirement tools and additional resources, including tax loss harvesting features and ESG investing options. 

A standard Vanguard brokerage account doesn't cost anything to open, but you'll have to invest at least $3,000 for Vanguard Digital Advisor - Product Name Only and $50,000 for Vanguard Personal Advisor Services - Product Name Only.

What to look out for: Vanguard's managed accounts, including its robo-advisor, are on the pricier side. It also doesn't have many options for advanced traders. 

Vanguard review

Best Investment Apps Frequently Asked Questions (FAQs)

How do I open an investing app account?

Once you've determined your investing goals and researched the available investing apps to pick the best one for you, to open an account you'll need to head to the app's website or mobile app and sign up to create an account. This part should be free, but to start investing, you'll need to fund your account using a source such as your checking account.

Who has the best investment app?

Some of the best investment apps offer low fees, human advisor access, educational resources, various tradable assets, and excellent customer service. But the best stock trading app for you depends on your personal preferences, investing goals, and other personalized factors. 

Why use an investment app?

You can use an investment app to open a brokerage account, access the market, and get access to human advisors, and other educational resources. The best investing apps offer account flexibility, multiple investment options, commission-free trades, and goal-building tools. 

What are the best investment apps?

Why You Should Trust Us: Our Expert Panel on The Best Investment Apps

Investing feels more accessible than it's ever been. Whether you prefer a hands-off approach or love to pore over market research and make trades — or fall somewhere in between — the best investment apps and stock trading apps can make it that much easier to reach your goals.

Our list of best apps for investing skews toward so-called robo-advisors — which use an algorithm to manage your investments — because, in many ways, these types of stock trading apps feel more accessible to average investors; fees and balance minimums are generally low and your big-picture goals can help create an individualized and diverse portfolio that doesn't require much ongoing maintenance.

But we've also included a few of the best online brokerages that offer both active trading and automated portfolios. Plus, some of our top picks for best brokerages to trade commodities also appear on this list. 

We interviewed the following three investing experts to inform our picks for the best investment apps:

What are the advantages and/or disadvantages of using an investment app?

Brian Fry, CFP:

"Using an investment app helps you have a better awareness of your financial situation. An app can greatly help to track progress toward financial goals and investment performance. [A disadvantage is that] using an app might lead to more trading instead of focusing on investing toward your financial goals."

Charlotte Geletka, CFP, CRPC:

"An investment app can be great for keeping informed and up to date, but it can also allow you to make impulse decisions so proceed with caution."

Kaysian Gordon, MBA, CFP, CDFA, CPA:

"It depends on how much guidance you're looking for. A robo-advisor will be able to create a portfolio based on a series of questions that you have answered. However, we know that as humans, we're way more complex than what a robo-advisor can provide."

Who should consider using an investment app?

Brian Fry, CFP:

"DIY investors should work with an investing app that best suits their situation. Whether that's the ability to trade investments online, have a robo-advisor, or [get] access to a call center. Every platform offers similar but different resources. The key is finding the one that works best for you."

Any other advice for those interested in investment apps?

Brian Fry, CFP:

"Choose the platform that simplifies the investing and rebalancing process and offers the best transparency. Find the app that provides the best user experience and greatest value to your unique financial situation."

Kaysian Gordon, MBA, CFP, CDFA, CPA:

"It goes back to doing the research and looking at the things that are important to you."

Our Methodology

People may have varying risk capacities and financial goals they're working toward, but you'd be hard-pressed to find someone who doesn't prefer a cheaper way to invest. For that reason, the cost was a huge factor in determining our list. 

Personal Finance Insider's rating methodology for investment platforms examines companies that offer platforms that keep fees to a minimum (generally below 0.50% of assets under management, or AUM, for balances under $100,000) and offer a high-quality experience. In some cases, that means access to free financial planning tools — or financial planners themselves — and clear and easy-to-understand investment options.

We compared nearly two dozen brokerages, placing heavy weight on their advisory and trading fees, investment philosophy, investment options, and types of accounts available. User experience is also important, so we also looked at each brokerage's accompanying mobile app and scoured reviews on the Apple Store and Google Play to find out what regular users think of the product. 

Other Investing Apps We Considered That Didn't Make the Cut

  • Betterment Investing - Product Name Only: Betterment comes up short on financial planning tools available to the average investor, and its annual fee increases for account balances of $100,000 or more.
  • Wealthfront Investing - Product Name Only: Wealthfront combines financial planning tools and robo-investing for a flat 0.25% advisory fee, but it also requires a $500 minimum balance to start investing, whereas Fidelity requires $10 and doesn't charge underlying ETF fees. Wealthfront is also now offering its new automated bond portfolio called Wealthfront Automated Bond Portfolio - Product Name Only.
  • Acorns Invest - Product Name Only: Acorns is one of the most approachable investment apps available. It offers five pre-built portfolios, ranging from conservative to aggressive risk tolerance. Each includes up to seven ETFs from companies like BlackRock and Vanguard and is automatically rebalanced to maintain proper asset allocation. But Acorns isn't as customizable as some of the other automated investing platforms.
  • Wealthsimple: This investment app may be ideal for passive investors who want to invest in socially responsible companies, but the options are limited to three portfolios and the advisory fee is higher than competitors at 0.50% for balances under $100,000. Note, though, that its products are now only available to Canadian residents.
  • TD Ameritrade investment account: An incredibly research-rich investment app that recently slashed all trading fees, TD Ameritrade has a lot to offer, but AUM fees for its managed accounts are higher than Wealthfront. Charles Schwab also acquired the investment platform in 2020.
  • Stash Invest - Product Name Only: Stash bundles a checking account, retirement accounts, and investment accounts together through a subscription model. It does make investing more accessible through fractional shares and customizable portfolios, but there are more cost-effective options for beginners.
  • Ally Invest: This bank offers commission-free trading, but for portfolio investing, there's a 0.30% advisory fee unless you keep at least 30% of your holdings in cash at all times. 
  • Stockpile: Stockpile is a fine option if you want to invest in small amounts to start. Trades are also free, but it may not be ideal for traders in search of immediate trade execution. Trades placed after 3 p.m. ET are placed at 4 p.m. ET on the following day.
  • Merrill Edge - Product Name Only: A convenient option for Bank of America users, but the lowest tier of managed portfolios commands an annual fee between 0.30% and 0.45% on a minimum balance of $5,000. 
  • Digit Investing: The Opportune app connects with your bank account to analyze your spending, and it automatically transfers money into your Oportun savings account when feasible. While Oportun also offers savings accounts, goal-based planning, automated investment, and retirement management, it's not primarily focused on investments. Plus, you'll have to pay a $5 monthly fee after your 30-day free trial expires.  
  • Uphold - Product Name Only: Uphold is a multi-asset digital trading platform that offers "Anything-to-Anything" commission-free trading for digital assets, national currencies, and precious metals. It's suitable for all levels of traders due to its transparent fee structure, staking reward features, easy-to-use platform, and educational resources. But Uphold's spread fees are higher than the industry's average. 
  • Wells Fargo Intuitive Investors - Product Name Only: An automated investing platform that invests in diverse, cost-effective ETFs. It offers individual brokerage accounts, joint brokerage accounts, IRAs, margin accounts, education savings accounts, and more. However it requires a Wells Fargo Intuitive Investors - Account Minimum minimum to open an account, and it doesn't offer many advanced charting tools or resources. 

 

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Best Investment Apps of November 2023